Pandora had a big announcement on Tuesday. It seems the company’s co-founder as well as CEO Tim Westergren has decided to step down from his position. In his place CFO Naveen Chopra was named as interim CEO as the company’s board looks for
someone to replace him.
Not only did Westergren step down as leader of the company, but he also left the board of directors. To fill his place on the board, Pandora as appointed Jason Hirschhorn, the CEO of ReDEF Group. He had previously been the digital officer of MTV
Networks as well as the co-president of social media site Myspace.
President Mike Herring and Chef Marketing Officer Nick Bartle are also leaving Pandora as well.
It was earlier this month that Sirius XM and majority shareholder Liberty Media, announced that it woul be investing $480 million into the streaming radio company. Sirius in return is getting a 19% stake in the company as well as three board seats and chairmanship.
Disclaimer: We have no position in Pandora Media Inc. (NYSE: P) and have not been compensated for this article.